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Building The Internet of Coins

Joachim de Koning

There are mainly two contrasting approaches when it comes to inter-blockchain connectivity; high-level and low-level. Both are equally important, but approach either the fundamentals or numerics of blockchain conglomeration. To create something like an Internet of Coins, we need to use both approaches concurrently and eclectically.

It could be compared to the way Michaelangelo worked to create one of his artful statues. Some of the chipping of the stone had to be done with large chisels and firm blows of the hammer. A high level approach to result in the basic and recognizable shapes of the rock being hewn. Yet simultaneously, he had to work with the utmost caution, scraping out the tiniest details to accentuate the shape of muscles and hair. The results of this combination are an artwork.

High-level connectivity focuses mainly on the controlling aspect of value trading. To make sure that one transaction finishes before sharing the access keys to another initiation for transaction can essentially be done from a high-level protocol. For example, it could be an RPC calling script can control two daemons for different cryptocurrencies to make an allocated trade between them possible.

Low-level connectivity delves down to byte-level transactions to make atomic cross-chain trades possible. In this case two transactions are meticulously crafted using advanced cryptographic programming, by which an atomic script ensures instantaneous escrow between blockchain constructs. Assembly-like language is used to describe this process.

Both approaches contain very useful and some deterring aspects, and thus must both be held up to scrutiny. Combining them in tandem is even more of a challenge, as it requires an eclectic overview and understanding of different technologies, their strengths and weaknesses, and how they may by combined most securely and efficiently.

In another comparison it is creating a thing of architectural beauty, like for example the Obuda Synagogue, St. Nicholas Cathedral Kronstadt, or the Taj Mahal. Any one of these three architectural beauties has taken great skill in prestigious, high-level architecture as well as patiently crafted, low-level ornamental detail.

Many high-level solutions are potentially compatible even towards systems that very much differ in their underlying implementation. However, the high-level approach is difficult to properly secure, and needs a parallel cryptographic network to function safely. It also leaves open security holes in every gap between the high-level construct itself and its controlled daemon subject. Perhaps it is also easier to infuse with malware, as high-level programming is often more easily understood, and agile to work with.

The low-level approach is most robust when applied properly, besides being light weight, and can outlast high-level systemic changes. Even so, it requires very skilled programmers and presents tough cryptographic puzzles to solve. In some cases it can lead to a quest for a holy grail that is most difficult, if not near-impossible to reach in a timely manner. And if a vulnerability is ever found at a later stage, it may be very difficult to find those qualified to repair such a weakness.

To make an internet of coins possible, we need both approaches, and we must patiently find the way for us as craftsmen to all build it together.

About the AuthorJoachim has an education in communications, is founder of Internet of Coins, Hybrid Assets, Metasync, and Lands of Sheraga. He is also an alt-coin enthousiast and developer currently working on technology to network the many cryptocurrencies and their blockchains. Regularly speaking at cryptocurrency gatherings in the Netherlands, with a passion for art and a vision for inventive technologies, Joachim often spends his time designing and implementing decentralized solutions at business organizations, green communities, Fablabs and hackerspaces in the Netherlands

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(continued from page 2)

The developers are more than happy to provide you with the funds to carry out your beta testing. I was given over a thousand ARI within a few hours of being accepted as a beta tester. Basically as soon as I started posting I got tips. I used those funds to test out the various features starting with the send money option. You can send ARI to anyone with an email address, and pretty soon you’ll be able to send ARI via Facebook and Twitter as well. No more having to carefully copy and paste those long strings of letters and numbers we know as addresses, though that is still an option.

I found some bugs, which I reported, and which got addressed. That’s what being a beta tester is all about–reporting the bugs so that the developers can fix them. There are also some features which are cool and innovative but a bit confusing. In any case, the platform is being worked on as I write this. The developers are hoping to move out of the beta testing phase soon and are putting the finishing touches in preparation. But even the transition out of exclusive beta testing isn’t going to be a hyped launch. The developers are taking the patient and organic approach to growth.

Sending and receiving transactions is all well and good–all cryptowallets do that. The real cool part is the payment gateway component. It’s definitely in its early stages, but it’s functional. I could use it to put up a digital product for sale right here on my website, and I probably will in the next week or two. In the mean time, you can check out my test product. If you accidentally click on the pay and confirm button while you are logged into your AriCoin wallet you will be out a penny. However, you can easily make that back by putting up your own test product and mentioning it on the private forum. The developers are happy to buy to help you experience it. Although the payment page is rather uninteresting visually–not much in the way of cool graphics–you can see how easy it would be to integrate it into an online retail platform. You post a picture of your product and irresistible description, and all you need is a buy now button connecting to the payment page. The buy now button is in development, but a simple text link would probably work for now. The point is you don’t need some fancy expensive shopping cart platform just to be able to sell something on your website or blog! If the product is a digital download then the entire process is hands free for you, and you don’t pay a penny for it.

Although I haven’t tried it yet, the payment gateway feature allows for recurring billing and soon will include a free trial period option. This could allow me to resurrect my earlier (but currently on hold) desire to build a merchant directory on my website. I got bogged down in the process of integrating all the various components and third parties, but with Aricoin there won’t be a third party for me to deal with it. I still have to figure out the directory plugin, though, so we’ll see about that

The potential this coin has to completely revolutionize the online retail space is mind boggling. This brings up the fact that Aricoin has a tip feature which can be integrated into any website. Typically people who contribute content on their own sites do it for free and hope to earn some revenue through various forms of leasing ad space or posting affiliate links. And the obsession is with traffic and clicks and click conversions, all in a day’s work for the Internet marketer. But with tipping features, writers essentially can earn income directly from the content, greatly reducing the need for third party advertisers willing to pay out a pittance for clicks and affiliate sales. You still have the incentive to generate traffic to your site, as you’ll need a lot of people tipping a small amount for it to really make a difference, but you don’t have to try to match your audience to third party products any longer. And as mentioned before you can easily sell your own products.

After just a couple days of mining and testing Aricoin I can’t say enough good things about it, and I can’t even begin to put into words the incredible upward potential this coin has. The only reason I hesitate to talk it up even more has to do with mining. Because Aricoin is largely unknown right now it is not heavily mined. The block reward is high, at 500 ARI per block, and the network hash rate is low, usually much lower than one GH/s. This means that I can mine a lot of coin with relatively little hashing power. If word gets out to the mining community my own mining profits will go down.

But in the end everyone will benefit once Aricoin gets more widely adopted. I anticipate that the reduction in individual rewards for miners will be more than compensated by a major increase in the coin’s exchange rate. If you do not mine, you can pick up some Aricoin on Cryptex. You are also welcome to rent my rigs

Once Aricoin gets on major exchanges such as my favorite, Cryptsy, it should trade in as many markets as possible, not just against Bitcoin, but also against all the other major alt coins. The reason is simple. Aricoin already has the most user-friendly wallet and payment gateway interface (and that’s even without all the bugs being fixed). It is so much more advanced than anything the other leading alt coins have that it makes more sense to be able to easily trade your favorite alt coin to Aricoin in order to use it to buy something from an online retailer. I’d like to see Aricoin on Cryptsy trading with Bitcoin, Dollars, Devcoin, Next, Litecoin, Dogecoin and plenty of other alt coins which have become successful for their unique contributions to the cryptospace.

The proof, of course, will be in the merchant adoption. With so many of the adoption obstacles removed I don’t anticipate that being much of a problem.

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(Continued from page 2 - Game Developer Reaches Out)

Prizes For Top 10 Players

As mentioned, there will be prizes for our top 10 players. The prizes for each rank is listed below and the winners will be found November 16th at 18:00 UTC.

1. 0.05 BTC

2. 0.02 BTC

3. 0.01 BTC

4. 0.007 BTC

5. 0.005 BTC

6. 0.003 BTC

7. 0.002 BTC

8. 0.001 BTC

9. 0.001 BTC

10. 0.001 BTC

How You Can Help

1. Play the game

You are helping simply by playing the game. The data that is collected from you playing the game and your progress will be used in order to fine tune details of the game.

2. Provide feedback

It would be a great help if you can provide some feedback. Maybe you notice a bug, have a great idea for some new features, or you have anything at all to say. You are able to help shape the nature of this game.

3. Help us design the website

As you quickly will notice, the site design is not very modern. And all the images are very simple. You can help us design images and even create a new front-end. You will of course receive credit to and receive a special listing with your name & website on a special credit page.

http://mybitmine.net/contact.php

Disney Coin?

[IDISNEY]

A Mickey Token-Coin*

NILIcoin

As virtual wallets take shape and the rise of Bitcoin shatters the centuries old hold on money, the road is clear for industry, corporations, social communities and individuals to start capitalizing directly using privately issued currency.

Coca-Cola Coin [ICOKE] and Disney Coins [IDISNEY] are the firsts in a series of NILIcoins which are made to present the future of crypto-currencies and the future of a true free market which brakes the currency monopoly. The coins that I issue are real coins which can be traded P2P on the counterwallet exchange platform. However, theses coins are not backed by the companies they depict. The visual representation of each brand is done using the artistic freedom an artist like myself has, to paint a very clear vision of the reality I wish to represent. As an artist I'm using your mental recognition of a visual image instead of using many words to describe my vision.

The Disney coin [IDISENY] is a Token-Coin which can only be used to buy my Mickey and Minnie art pieces The Coca-Cola Coin [ICOKE] is a Coupon-Coin, a discount token for a product which you will always be able to buy with this coin, in this case a discount on an art print of a Coca-Cola bottle. I made these coins as a representation for the type of coins industries such as Disney or Coca-Cola should issue one day

However this is only the beginning ...

NILIcoins are created as art to demonstrate and promote the idea of a competitive credit-provides ecosystem. A decentralized monetary system based on cryptocurrency which will employ production power, trade volume and social networks to create an independent coin market. A market which will then have the power to offer a viable and sustainable alternative for the monopoly of bank credit.

The NILIcoins project itself was conceived as a result of the need to illustrate this concept in real terms. My grand vision of is to help supplying industries and communities with tools to capitalize directly on their commercial power, and then utilize coin independence and versatility to initiate the construction of a competitive credit industry

The first step is to represent this notion by using brand name coins to illustrate it then to provide customized and ready to use coin packages which are fitted with all necessary components to facilitate a seamless multi-coin clearance. and finally to see the creation of a platform on which these coins can be lend as an interest free credit to the public

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WorldAidCoin Helps Needy

Gravitate

WorldAidCoin was made to utilise the power of crypto currencies to do things that were not possible by traditional means. WorldAidCoin a standard clone because the coin is ASIC resistant as it is coded with the Adaptive-N-Factor as well as 50% of all the blocks mined go to the 50% WorldAidCoin Guardian fund. We actually do not need donations to help we just need to be used, and this is free.We have created a way of people helping others without giving anything or actually potentially even realise they are helping others.

Cryptos can genuinely improve many peoples lives, but there are limitations on who it can benefit. This is because you either need to be in a position to buy bitcoin, or you must have equipment to actually mine it.

This is not a bad thing in itself, but it is a shame that such an empowering revolutionary concept that freed many from corrupt financial systems is not available to help everyone. Not everyone had the knowledge or capability to even contemplate using a crypto currency and this is slightly unfair.

The WorldAidCoin fund keeps 50% of all coins mined in a block we can then use this to spread relief throughout the world. The more popular WorldAidcoin becomes as a cryptocurrency increases the potential we have in our fund to help others in the world. This concept has huge potential and utilizes even the greedy to make a difference in the world for the better

We must first think of starting small and thinking big. We will start with disaster relief, primarily focused on the Philippines, and help with the problems that are happening right under our nose with homeless issues in the countries where we live, such as tent city. One of our midterm plans is harnessing cryptos in the heart of the poorer communities throughout Africa and Asia. This is initially a lot of work to bite at, but with a growing number of Guardians and the popularity of the coin increasing daily we can and will make anything happen.

WorldAidCoin sold a small percentage of the WorldAidCoin fund for Bitcoin. Part of this was used to fund soup kitchens in the UK to help the homeless and potentially give them a new way of raising income to help themselves find accommodation.

Aside giving away food we created laminated paper WorldAidCoin wallets that were given to homeless for free. They could then sell these to members of the public for fiat currency. The public will eventually be able to use these to buy items online or exchange for fiat money via Bitcoin. Right now the homeless sell a magazine called The Big Issue, but this costs money, and they are now being selective about who can sell it. We are trying to push into this market, so everyone has the opportunity to help themselves.

We will all soon be manufacturing hardware to utilise old smartphones into helping preserve the planet and teach kids in a no biased way. To gain popularity also World Aid Coin has developed a fun investment game www.thegoldenegg.com the sign up link is https://thegoldenegg.co/users/WordAidCoin?487db3130

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(continued from page 2 - Armis)

Marilyn Price-Mitchell, PhD, of Roots of Action, said:“critical thinking skills don’t fully develop until adolescence but the foundations for good thinking develop in younger children.” In Logical, Critical, and Creative Thinking By T.N. Turner Pearson Turner says: “[h]elping students learn to think logically should lead them to critical and creative thought processes...” at Armis we agree wholeheartedly, we have found that children as young as 8 years old can grasp the fundamental principles of critical thinking.

When asked: “What is Critical Thinking?” Michael Austin, author of Standards of Critical Thinking said: “... [it] is disciplined thinking that is governed by clear intellectual standards,” he continued saying: “[it] involves identifying and analyzing arguments and truth claims, ... developing your own reasons and arguments in favor of what you believe...” Timothy Bednarz, Ph.D. in Leaders To Leaders said: “Critical Thinking is able to translate the thinking process into clear, persuasive, truthful language, which is carefully and logically crafted … [e]very process or method is made of essential components, and critical thinking is no different ... perception, assumptions, emotion, language, argument, fallacy, logic, and problem solving.” Closely related to Critical Thinking is Logical Thinking, according to Christina Sponias in How to Improve Logical Thinking Skills “ … logic is a particular method of reasoning … if we want to improve our logical thinking skills, we have to improve our capacity to judge reality.”

Armis is designed to teach students how to 'know how to know', once that is understood it is very easy to apply that knowledge process to academic environments. At Armis we believe:

'A' students are those who know how to know and consistently apply it,

'B' students are those who know how to know but don't regularly advance it,

'C' students often don't know how to know but benefit greatly by their genuine interest in various academic subjects,

'D' students often don't know how to know and have low interest in academic subjects,

and

'F' students often don't care to know how to know,

The Armis for Schools Worldwide program enables ‘C’ and ‘D’ average student to know how to know by way of our 5 step critical thinking process. The process readies them to be ‘A’ and ‘B’ average students in a relatively short period of time.

The Blocknet is a revolutionary advancement in cryptographic technology: a true peer-to-peer protocol between nodes on different blockchains. It is the “internet of blockchains,” enabling open-ended communication and delivery of services between users of different cryptocurrencies, and vastly increasing the user base (and profit potential) of any given coin. Its ITO (initial token offering) will take place on 29 October 2014.

The Blocknet is an initiative by XCurrency developer Dan Metcalf, who, when considering how best to build XCurrency’s user base and to improve the state of crypto in general, hit upon an idea to accomplish both in one fell swoop. What if one coin’s features could function as services accessible to users of every other cryptocurrency? What if the foundation fostering this technology could ratify new coins and thereby exclude the “scamcoins” that crypto is rife with? What if it could incubate further development and enable collaboration between talented developers? The idea of a Blocknet was born.

A truly democratic, non-centered project

The Blocknet is not, of course, the only project creating an “internet of blockchains.” However it has at least three fundamental differences from competing projects. Firstly, it has no central or core currency (unlike BTCD for SuperNET), and thus will create a truly open, democratic inter-blockchain framework that can be extended as widely as the internet was. While the idea was initiated by XCurrency, XC is no more a “core coin” than any other, and its team does not control the Blocknet Foundation. Every participating coin is eligible for a seat on the Foundation’s board. This is necessary for the Blocknet to freely and directly link any cryptocurrency network to another one, and thus truly be an “internet of blockchains.”

Secondly, joining the Blocknet does not involve 10% of a coin’s money supply being bought and centrally controlled. Centralisation of a coin’s money supply carries risk and demands that one trust the central entity. No such scenario applies to the Blocknet, because its core technology, the XBridge, will be open source and can therefore be integrated into a wallet’s code for free. Instead of an asset-backed approach, the Blocknet’s value derives directly from its incredible utility.

Thirdly, the Blocknet is founded on the XBridge, which is not an RPC call protocol but a true P2P protocol. It is one thing for nodes to connect to each other directly (and thus “P2P”), but it is another for the protocol by which they connect to be true P2P rather than simply JSON-RPC or some other method.

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How it works

If some cryptocurrencies are creating “blockchain 2.0” features, the Blocknet is an “inter-blockchain 2.0” technology. It is distributed, its technology coded into every Blocknet-compatible node. It is trustless. It is not a coin, but a way of enabling nodes from different coins to render services to each other. Its core technologies are the XBridge protocol, by which nodes communicate, and a decentralised exchange, by which nodes are remunerated for their services. All of its technologies are accessible via an API.

The Blocknet has its own token of value. However it is not a coin but a token of the value the Blocknet adds to every service it enables. Every time a service is rendered, the node(s) rendering the service receive payment directly from the node(s) that request it, and the Blocknet charges a micro-fee for supporting the service. Owners of Blocknet tokens earn these fees in proportion to the number of tokens they own – the accounting for which is of course done trustlessly and in the public domain.

A brief (and incomplete) list of services available to all users of any coin on the Blocknet is:

Private payments

Distributed file storage

Node-based VPN provision

Decentralised exchange of currencies

The use of any ATM supporting any coin on the Blocknet (i.e. automatically convert to the requisite currency in order to deposit/withdraw)

Private messaging

Distributed web content server

Asset creation, distribution, and management

The Blocknet ITO

The Blocknet’s ITO will begin on 29 October 2014. These are its rules:

Ten million tokens will be created and no more will ever be made available.

The price per token will be 0.00025 BTC.

Tokens will be available for purchase using any participating coin, or BTC.

Tokens purchased using a participating coin will be sold at a 10% discount.

I’m writing to send you some excellent news regarding our Goldcoin (GLD) digital currency! Your hard work and tireless energy is finally paying off as the month of November is proving to be our best ever!

Our block explorer has been fully paid for one year by Dustin Thomas, Amir’s ground-breaking java client is just days away from being released, and our first-ever Goldcoin Conference has been scheduled for 6:00pm, Saturday, November 29, 2014, at The BoardWalk Hotel & Casino Resort in Port Elizabeth, South Africa.

A lot of you have been asking how you can help. So last night I created a StartJoin project to help raise funds for the conference. The conference has been paid in advance by Jason Swart, but we need to share the cost across the entire community. This will also help to make the event even bigger and better. Project link: https://www.startjoin.com/gogold

If each of you reading this email will chip in just a small amount, this project can be fully funded tonight. In less than 24 hours, the event is already 15% funded!

Thank you again for your time, and I look forward to the progress, growth, and prosperity that the future holds our wonderful Goldcoin (GLD) currency.